|Criteria||From a+ to d||Project rating|
Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
We present the third stage of the stage financing project "Darzelis Kauno raj.". The funds of the third stage will be used to continue construction work. After this financing stage, when the project reaches the maximum possible LTV - 70%, a new real estate appraisal will be performed.
The project is developing rapidly - after the first two stages of funding, about 90 percent of roofing works, plumbing on the ground floor and concrete floors. Ducts have been installed throughout the building, field engineering networks have been installed, plastering and welfare management works have been started.
The project owner is building a 1947.27 sqm of kindergarten in the Kaunas district. A 5-year lease agreement has already been signed with the tenant of the building, with the possibility of extending it for another 5 years. The registered completion of the building is 40%, cadastral measurements were made on 02/04/2021. The construction is expected to be completed in 2021. October. Once the construction work is completed and the kindergarten is rented, the project owner intends to refinance this loan with another financial institution.
In order to protect the interests of investors, an 87.93 acres plot of land is pledged and a building-kindergarten is being built in it, in Kaunas district municipality, Garliava district, Jonuciu village, Slenio str. 25. According to an independent real estate appraiser, the value of the pledged real estate to investors is EUR 617 000. The pledged real estate is under development, so the value of the pledged property is constantly increasing.
The maximum amount to be financed is EUR 1 500 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) at this stage is 70%.
Interest by investment amount:
- From EUR 100 to EUR 999 - 8,5%
- From EUR 1 000 to EUR 4 999 - 9%
- From EUR 5 000 to EUR 24 999 - 9,5%
- From EUR 25 000 - 10%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.
The project is located in a quiet place in Kaunas district, Jonuciai village, which is growing rapidly. From here it is convenient to reach the central part of the city and the countryside, so the area is popular with young families, and the new and modern kindergarten will increase the attractiveness of the place.
According to the construction schedule, it is planned to install doors, windows, interior engineering, perform facade and roof works, install engineering and electrical systems, perform interior finishing and welfare works.
Duration of repair/construction - 6 months.
o ensure the interests of investors, the plot of land and kindergarten, have been pledged. Total area of land plots 0.8793 ha, Kaunas district, Jonuciu village II, Slenio st. 25
Assets pledged to investors during this and previous funding stages will also be used to secure the obligations of the project owner in the next (additional) stages of financing, provided that the project owner raises the value of the pledged property to a maximum LTV of 70%.
When investing in this project, during the second and subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does not affect the seniority of the investor’s right to the collateral, the overall ratio of the collateral to the amount of the investment. This provision will also not apply in the event of termination of the loan agreement.
Investors of all stages will be pledged with a primary mortgage.
|Land plot||Kauno district, Jonuciu II village., Slenio st. 25|
|Kauno district, Jonuciu II village., Slenio st. 25|
1 947,27 sqm
|Address of the pledged asset||Unique number of the pledged asset||Independent assessor||Value of the pledged asset by independent assessment|
|Kauno district, Jonuciu II village., Slenio st. 25||4400-4471-6854; 4400-5589-6830||UAB "Marleksa"||617 000 €|
|Type||Title of the company||Company code||VAT payer’s code|
|Legal entity||UAB "S25"||305621430||LT100013517414|